AICTE to provide Rs 1cr seed capital for research parks

Under its research park initiative, the All-India Council for Technical Education (AICTE) has decided to allocate Rs 1 cr to set up research parks. The parks will be set-up in collaboration with an industry partner who will also provide funds to the tune of Rs1 crore. The research activities to be carried out in the park will also include studies needed for the industry.

“This will be a perfect give and take deal. While the industry will participate in financial assistance, the institutes will conduct research on the basis of the industry needs. Researchers will also get a hands-on experience with real time industry research activities,” said SS Mantha, chairman, AICTE.

The research park will be set up on the institute premises itself, which should make available at least a 3,000-square feet area for it.

“We aim to open such research parks in at least one state each. However, more such parks would be welcome to provide ample research opportunities to research scholars in India,” added Mantha.

In order to encourage young talent in pursuing research in the country, the AICTE is also going place the top 100 research students at the CSIR (Council of Scientific and Industrial Research) and DRDO (Defence Research and Development Organisation) laboratories.

“These are the best laboratories in India to conduct research. We want to provide ample opportunities to the research students and scholars from our education system. Hence, we decided to give top class opportunities to our researchers,” said Mantha.

The scholars will be shortlisted through a competitive model of testing and the AICTE will give Rs15, 000 per month to each student for three years.